● Manvendra Chandola, CEO of RiverSong India Operations, will join PLAY as the Group CEO
● The companies plan to jointly bolster on-ground presence in the country
Building on its stellar growth trajectory, PLAY, a cutting-edge 'Made in India' start up on a mission to unite the youth with connected devices, has acquired RiverSong India. With this development, the brand aims to strengthen its distribution network, expand its product portfolio and establish a stronger foothold across India.
On the back of the strategic acquisition, the two companies aim to jointly gain an on-ground presence extending to all parts of India and aim to reach to 100,000 retail outlets in India, including Tier-II and Tier-III cities and towns. In addition, the front-running brands will also get an opportunity to immediately establish their presence in over 40,000 retail stores of each other in the second-most populous country in the world.
A major leadership transition will follow this high-potential acquisition. Manvendra Chandola, CEO, RiverSong India Operations, will join PLAY as the Group CEO. With 25 years of comprehensive experience and in-depth knowledge of various industries, including FMCG, retail, and electronics, he will be instrumental for the growth post this strategic acquisition.
RiverSong India, till now, has acquired more than 4 million customers on account of its product sales in India. Following this acquisition, PLAY envisions adding brand-new products to its portfolio thereby enriching the consumer offering under the Dual-brand strategy.
PLAY is the latest venture of Gurugram-based entrepreneur VIKAS JAIN. At present, PLAY is focussed on design and development of futuristic digital technology infused with AI & IoT features in the activewear and home automation market. On the other hand, a subsidiary of leading phone developer, IMG Technology Group, RiverSong Technology is a global brand with several key smart products and presence in over 60 countries, including India, South Africa and Turkey.
New Delhi, July 05, 2021